Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 1.9% in the fourth quarter, Holdings Channel reports. The fund owned 98,975 shares of the cryptocurrency exchange’s stock after purchasing an additional 1,870 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Coinbase Global were worth $17,214,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Stevens Capital Management LP increased its position in Coinbase Global by 185.5% during the fourth quarter. Stevens Capital Management LP now owns 9,532 shares of the cryptocurrency exchange’s stock worth $1,658,000 after purchasing an additional 6,193 shares during the last quarter. Syon Capital LLC acquired a new position in Coinbase Global during the fourth quarter worth $289,000. Atria Wealth Solutions Inc. boosted its position in shares of Coinbase Global by 32.4% during the fourth quarter. Atria Wealth Solutions Inc. now owns 7,376 shares of the cryptocurrency exchange’s stock worth $1,283,000 after buying an additional 1,806 shares during the period. Magnolia Capital Advisors LLC acquired a new stake in shares of Coinbase Global in the fourth quarter valued at $281,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in shares of Coinbase Global by 1,413.2% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 802 shares of the cryptocurrency exchange’s stock valued at $139,000 after buying an additional 749 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Performance

Shares of NASDAQ COIN traded down $0.76 during midday trading on Thursday, reaching $223.61. 5,119,559 shares of the company were exchanged, compared to its average volume of 13,568,734. The stock has a fifty day simple moving average of $229.46 and a 200 day simple moving average of $159.37. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. The stock has a market cap of $54.17 billion, a P/E ratio of 831.00 and a beta of 3.41. Coinbase Global, Inc. has a 1 year low of $46.43 and a 1 year high of $283.48.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The business had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. During the same period last year, the company posted ($2.46) EPS. The company’s revenue was up 51.6% on a year-over-year basis. On average, research analysts forecast that Coinbase Global, Inc. will post 2.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on COIN shares. Keefe, Bruyette & Woods raised their target price on Coinbase Global from $160.00 to $230.00 and gave the company a “market perform” rating in a report on Wednesday, April 3rd. Wedbush increased their target price on shares of Coinbase Global from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. HC Wainwright boosted their price target on shares of Coinbase Global from $115.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. JPMorgan Chase & Co. lifted their target price on Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $240.00 price target on shares of Coinbase Global in a research report on Thursday, March 28th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $165.43.

Insider Buying and Selling

In related news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $213.99, for a total value of $3,505,156.20. Following the completion of the sale, the director now directly owns 4,662 shares of the company’s stock, valued at $997,621.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Coinbase Global news, CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $129.07, for a total value of $2,978,290.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $213.99, for a total value of $3,505,156.20. Following the sale, the director now owns 4,662 shares of the company’s stock, valued at $997,621.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 515,828 shares of company stock valued at $95,846,182. Corporate insiders own 33.16% of the company’s stock.

Coinbase Global Profile

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.